SG Americas Securities LLC Grows Stake in HDFC Bank Limited $HDB

SG Americas Securities LLC raised its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 6,904.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,913,692 shares of the bank’s stock after purchasing an additional 1,886,370 shares during the period. SG Americas Securities LLC’s holdings in HDFC Bank were worth $47,613,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. NewEdge Advisors LLC grew its stake in HDFC Bank by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after buying an additional 922 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in HDFC Bank by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after buying an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in HDFC Bank by 24.5% in the second quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after acquiring an additional 1,541 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in HDFC Bank by 464.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after acquiring an additional 1,221 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of HDFC Bank by 29.3% during the second quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after acquiring an additional 11,689 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares in the company, valued at $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, the insider directly owned 848,558 shares in the company, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,600 shares of company stock valued at $189,560 over the last 90 days. 1.00% of the stock is currently owned by insiders.

HDFC Bank Trading Up 0.0%

Shares of NYSE HDB opened at $25.06 on Tuesday. The company has a 50 day simple moving average of $24.90 and a two-hundred day simple moving average of $29.41. The stock has a market cap of $127.86 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.40 and a beta of 0.65. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).